Foundation For The Monterey County Free Libraries
- Assets
- $884.8k
- Revenue
- $375.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Salinas, CA
- Founding
- 05/1995
- Data as of
- 12/2021
- EIN
- 77-0256346
Organization Overview
Foundation For The Monterey County Free Libraries is located in Salinas, CA. The organization was established in 1995. According to its NTEE Classification (B99) the organization is classified as: Education N.E.C., under the broad grouping of Education and related organizations. As of 12/2021, Foundation For The Monterey County Free Libraries employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Foundation For The Monterey County Free Libraries is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Foundation For The Monterey County Free Libraries generated $375.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $416.8k during the year ending 12/2021. While expenses have increased by 3.6% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ASSIST THE MONTEREY COUNTY FREE LIBRARIES IN PROVIDING ACCESS TO INFORMATION, EDUCATION, AND RECREATIONAL MATERIALS, AND LIFELONG LEARNING OPPORTUNITIES TO THE DIVERSE CULTURAL, LINGUISTIC, URBAN, AND RURAL COMMUNITIES IT SERVES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENHANCED AND ENRICHED MONTEREY COUNTY FREE LIBRARIES' PROGRAMS AND SERVICES BY PROVIDING FUNDING FOR ADULT LITERACY, HOMEWORK CENTERS, SUMMER READING PROGRAMS, MATERIALS & BOOKS, AND OTHER NECESSARY FUNDING.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julia Foster Executive Dir. | Officer | 40 | $75,797 |
Nancy Harray President | OfficerTrustee | 2 | $0 |
Ron Eastwood Vice President | OfficerTrustee | 2 | $0 |
Sheri Cline Secretary | OfficerTrustee | 2 | $0 |
Leinette Limtiaco Director | OfficerTrustee | 2 | $0 |
Aviv Kadosh Treasurer | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $367,550 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $367,550 |
| Total Program Service Revenue | $0 |
| Investment income | $7,553 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $375,103 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $229,891 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $75,796 |
| Compensation of current officers, directors, key employees. | $25,265 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,716 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $556 |
| Payroll taxes | $7,482 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $29,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $789 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,033 |
| Office expenses | $20,011 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $606 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,248 |
| All other expenses | $1,895 |
| Total functional expenses | $416,814 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,230 |
| Savings and temporary cash investments | $331,906 |
| Pledges and grants receivable | $70,000 |
| Accounts receivable, net | $5 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $449,687 |
| Total assets | $884,828 |
| Accounts payable and accrued expenses | $130,654 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $97,058 |
| Total liabilities | $227,712 |
| Net assets without donor restrictions | $238,371 |
| Net assets with donor restrictions | $418,745 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $884,828 |
Grants Recieved
Over the last fiscal year, we have identified 5 grants that Foundation For The Monterey County Free Libraries has recieved totaling $96,574.
| Awarding Organization | Amount |
|---|---|
Sunlight Giving Palo Alto, CA PURPOSE: IMPROVING THE OUTDOOR SPACE AT THE SAN LUCAS BRANCH | $75,000 |
Pebble Beach Company Foundation Pebble Beach, CA PURPOSE: General Support | $20,000 |
Walter G Canipe Foundation Smyrna, GA PURPOSE: LITERACY SERVICES | $1,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $74 |
Endowment Analysis
| Beg. Balance | $173,403 |
| Earnings | $37,318 |
| Admin Expense | $789 |
| Ending Balance | $209,932 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Kipp Foundation San Francisco, CA | $136,274,072 | $130,699,963 |
The Chicago School - California Inc Los Angeles, CA | $127,785,110 | $98,235,232 |
Social Good Fund Richmond, CA | $64,387,201 | $85,650,973 |
Avid Center San Diego, CA | $134,506,037 | $61,146,519 |
Khan Academy Inc Mountain View, CA | $115,035,528 | $59,263,743 |
California School Employees Association San Jose, CA | $160,720,307 | $80,296,309 |
Prager University Foundation Sherman Oaks, CA | $86,724,321 | $65,499,557 |
The Oakland Public Education Fund Oakland, CA | $29,835,630 | $28,210,005 |
Unicare Community Health Center Inc Ontario, CA | $12,734,998 | $31,780,162 |
Spectrum Healthcare Group Inc Cottonwood, AZ | $17,862,058 | $29,292,227 |
University Studies Abroad Consortium Reno, NV | $41,233,258 | $28,044,577 |
Califa Group San Francisco, CA | $13,975,341 | $20,958,873 |